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Zdolsek, Katja --- "NATIONAL REPORT FOR SLOVENIA" [2019] ELECD 882; in Chuah, Jason; Vaccari, Eugenio (eds), "Executory Contracts in Insolvency Law" (Edward Elgar Publishing, 2019) 380

Book Title: Executory Contracts in Insolvency Law

Editor(s): Chuah, Jason; Vaccari, Eugenio

Publisher: Edward Elgar Publishing

Section: Chapter 20

Section Title: NATIONAL REPORT FOR SLOVENIA

Author(s): Zdolšek, Katja

Number of pages: 20

Abstract/Description:

This chapter analyses the treatment of executory contracts under Slovenian corporate insolvency law. After a brief introduction on the procedures available to a business in distress in that country, the report describes the rules applicable to executory contracts in formal insolvency procedures. The Slovenian Insolvency Act contains certain special provisions concerning the treatment of executory contracts. These provisions form a special regime and exempt the executory contracts from the general treatment of claims in insolvency proceedings. These provisions are covered in this report, alongside with the enforceability of remedies agreed by the parties in solvent times (such as ipso facto clauses in commercial contracts). The chapter includes a final section on recent and prospective reforms of the existing law. It can be concluded that the main drivers of the recent reforms of Slovenian insolvency legislation seem to be the efforts to improve the effectiveness and efficiency of insolvency proceedings to the benefit of the economy. The legislator has displayed a clear preference for financial restructuring and preservation of viable businesses over dissolving the companies in bankruptcy proceedings.